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Views: 74 DOM: 129 Updated: 10.10.24 Posted: 08.14.24 Status: Active

Summary

Price $3,157,800
Built/Renov 1994/2005
Tenant Outback Steakhouse
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,167
Lease Start 03-01-2017
#Units 935
Price/SF $512.05
Expiration 02-28-2037
Tenant Type Casual Dining
NOI $189,469
R. Term 12.2
Ownership Fee Simple
Rent/SF $30.72
Increases 1.8%/1/yrs
Pop 5Mi 98,107
Lot/AC 1.64
Options 3/5yrs/1.8%
AHHI 5Mi $83,780

Lease Highlights

  • Outback Steakhouse has 12+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.8% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: BLMN)

Location Description

Outback Steakhouse is strategically located on Interstate 10, with access to a substantial daily traffic count of 130,685 vehicles. The property is situated directly off Interstate 10 and is 500 feet from Washington Boulevard, which sees 14,084 vehicles per day. Additionally, it is within a mile of US-90 (38,924 VPD) and US-96 (74,563 VPD). The site is immediately adjacent to Lupe Tortilla and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Outback Steakhouse is a chain of Australian-themed casual dining restaurants, serving American cuisine. Best known for grilled steaks, chicken, and seafood, Outback also offers a wide variety of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,126 44,753 96,559
2024 Total Population : 3,071 44,847 96,576
2024 Employed Civilian Pop : 854 19,941 42,406
2024 Total Businesses : 423 3,240 5,262
2024 Average Household Income : $ 50,899 $ 75,932 $ 81,010
2024 Total Consumer Spending : $ 53 M $ 1180 M $ 2721 M
2024 Median Age : 43 38 38
2024 Total Households : 1,169 17,337 37,714
2024 Pop Age 25+: Bachelor's Degree : 139 5,116 12,856
2024 Average Home Value : $ 212,640 $ 199,292 $ 217,732
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Washington Boulevard Blossom Dr 2022 12,622 0.19 mi
Washington Blvd S 23rd St 2001 19,950 0.19 mi
S 23rd St Washington Blvd 2011 2,200 0.22 mi
Washington Blvd S 23rd St 2011 14,320 0.27 mi
12th St Washington Blvd 2011 1,850 0.32 mi
I-10 S 2021 4,115 0.35 mi
I-10 S 2022 3,980 0.35 mi
I 10;US 69;US 96;US I-10 S 2021 117,050 0.37 mi
I 10;US 69;US 96;US I-10 S 2022 130,685 0.37 mi
TX 121 Washington Blvd 2020 109,245 0.38 mi

Listing Broker

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